281 Seahorse Cir SE · Palm Bay, FL 32909

$350,000

3 bd · 2.0 ba · 1,750 sqft · SingleFamily public records · 94 Days on market

Built 2003 0.25 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +1.0/10.0

Listing remarks MLS

Enjoy a peaceful life in your dream home and community. This stunning home offers spacious living areas, including a formal dining room and cozy family room. Enjoy the convenience of a laundry room with air conditioning. The split bedroom plan and open concept floor plan provide the perfect blend of comfort and functionality. Key Features include: City Water, water softener, Insulated garage with Wall-to-wall closet, Console air unit. Ceiling fans, tile floors, Shed, motion lights, back yard. Septic tank revision 2025. This home is a must-see!

Key facts

• Formal dining room
• Laundry room
• Cozy family room

Tags

• FORMAL DINING ROOM
• COZY FAMILY ROOM
• LAUNDRY ROOM
• SPLIT BEDROOM PLAN
• OPEN CONCEPT FLOOR PLAN
• CITY WATER

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Septic tank; Cable available and connected; Electricity available and connected; Water available and connected
• Home design: Single-family residence; One story; Faces south
• Construction: Block, concrete and stucco construction; Shingle roof; Pets allowed
• Exterior features: Front porch; Rear screened porch; Fenced backyard with wood privacy fence; Few trees on lot; Asphalt city street frontage

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Hot water heating; Electric heating; Central air conditioning; Electric cooling
• Interior features: Breakfast bar; Ceiling fans; Open floorplan; Split bedroom layout; Walk-in closets
• Laundry & utility: Washer and dryer included; Electric dryer hookup; Washer hookup; Electric water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-542 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (27.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (35.7% below list).
• Recommended offer: $225k (35.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#366 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, health & safety D-.
• Brevard (suburban): math 53% / reading 57% proficiency, ranked #19 of 73 in FL (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Columbia Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 506 students, 68% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL) — zoned schools average 59% FRL vs 43% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 55% district-wide (-14 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 1123 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 34% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $265k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,064 (35.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.64% ✗
• Cap rate: 4.43%
• Cash-on-cash: -6.64%
• DSCR: 0.70
• GRM: 13.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.61×
• Total profit: $157,606
• Equity at exit: $315,308

10-year hold

• IRR: 18.2%
• Equity multiple: 6.04×
• Total profit: $494,397
• Equity at exit: $679,973

Cash invested: $98,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1123
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,251 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$339 /mo · $4,064/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $-542

Break-even live

Break-even rent $2,937

Max offer price $254,271

Occupancy floor —

Sensitivity live

Price	-10% $-344	-5% $-443	+0% $-542	+5% $-641	+10% $-740
Rent	-10% $-720	-5% $-631	+0% $-542	+5% $-453	+10% $-364
Rate	-1.0pp $-366	-0.5pp $-453	base $-542	+0.5pp $-633	+1.0pp $-725

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1523 Elmhurst Cir SE Palm Bay, FL	3.0	2.0	2028	$2,325	$1.15	25d	1	0.39mi
1736 La Maderia Dr SW Palm Bay, FL	3.0	2.0	1873	$2,000	$1.07	25d	1	0.55mi
1733 La Maderia Dr SW Palm Bay, FL	3.0	2.0	1865	$2,195	$1.18	23d	1	0.56mi
1224 Buffing Cir SE Palm Bay, FL	4.0	2.0	2233	$2,395	$1.07	16d	1	0.63mi
1718 Sawgrass Dr SW Palm Bay, FL	4.0	2.5	2248	$2,400	$1.07	25d	1	0.73mi
1290 Sail Ct SE Palm Bay, FL	3.0	2.0	1509	$1,945	$1.29	25d	1	0.82mi
1129 Colonial Ave SE Palm Bay, FL	4.0	3.0	2008	$2,500	$1.25	20d	1	0.86mi
914 Caligula Ave SE Palm Bay, FL	3.0	2.0	1371	$1,841	$1.34	15d	1	0.90mi
647 Airoso Rd SE Palm Bay, FL	4.0	3.0	2365	$2,900	$1.23	15d	1	0.93mi
1897 Gould Ave SW Palm Bay, FL	4.0	2.0	1555	$1,850	$1.19	25d	1	1.02mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	25d	1	1.02mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	25d	1	1.02mi
356 Garbelmann St SW Palm Bay, FL	4.0	3.0	1850	$2,121	$1.15	15d	1	1.03mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	20d	1	1.06mi
2910 Emerson Dr SE Palm Bay, FL	3.0	2.0	1700	$1,950	$1.15	16d	1	1.06mi
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	25d	1	1.07mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	25d	1	1.10mi
1043 Corbin Cir SW Palm Bay, FL	4.0	2.5	2548	$2,600	$1.02	25d	1	1.24mi
328 Hammonton St SW Palm Bay, FL	3.0	2.0	1942	$2,500	$1.29	25d	1	1.31mi
1133 Hanover Ave SW Palm Bay, FL	4.0	2.0	1804	$2,250	$1.25	23d	1	1.33mi
2008 Olympia Ave SW Palm Bay, FL	4.0	2.0	1828	$2,500	$1.37	25d	1	1.36mi
844 Corbin Cir SW Palm Bay, FL	4.0	2.0	2118	$2,500	$1.18	25d	1	1.36mi
439 Gancedo St SW Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	25d	1	1.38mi
497 Schenley St SW Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	25d	1	1.41mi
726 Scotten Ave SW Palm Bay, FL	3.0	2.0	1443	$1,970	$1.37	15d	1	1.46mi

Listing history 27 events

1. 2026-06-22
   days on market $350,000 Active 94 DOM
2. 2026-06-18
   days on market $350,000 Active 91 DOM
3. 2026-06-17
   days on market $350,000 Active 90 DOM
4. 2026-06-16
   days on market $350,000 Active 89 DOM
5. 2026-06-15
   days on market $350,000 Active 88 DOM
6. 2026-06-14
   days on market $350,000 Active 86 DOM
7. 2026-06-10
   days on market $350,000 Active 83 DOM
8. 2026-06-08
   days on market $350,000 Active 81 DOM
9. 2026-06-07
   days on market $350,000 Active 80 DOM
10. 2026-06-05
    days on market $350,000 Active 77 DOM
11. 2026-06-03
    days on market $350,000 Active 76 DOM
12. 2026-06-02
    days on market $350,000 Active 75 DOM
13. 2026-06-01
    days on market $350,000 Active 74 DOM
14. 2026-05-31
    days on market $350,000 Active 73 DOM
15. 2026-05-31
    days on market $350,000 Active 72 DOM
16. 2026-05-08
    price $350,000
17. 2026-03-19
    listed $375,000 Active
18. 2026-03-12
    historical 550-char remark

    Show marketing remark (550 chars)

    Enjoy a peaceful life in your dream home and community. This stunning home offers spacious living areas, including a formal dining room and cozy family room. Enjoy the convenience of a laundry room with air conditioning. The split bedroom plan and open concept floor plan provide the perfect blend of comfort and functionality. Key Features include: City Water, water softener, Insulated garage with Wall-to-wall closet, Console air unit. Ceiling fans, tile floors, Shed, motion lights, back yard. Septic tank revision 2025. This home is a must-see!

19. 2026-03-12
    listed $375,000 Active 550-char remark

    Show marketing remark (550 chars)

    Enjoy a peaceful life in your dream home and community. This stunning home offers spacious living areas, including a formal dining room and cozy family room. Enjoy the convenience of a laundry room with air conditioning. The split bedroom plan and open concept floor plan provide the perfect blend of comfort and functionality. Key Features include: City Water, water softener, Insulated garage with Wall-to-wall closet, Console air unit. Ceiling fans, tile floors, Shed, motion lights, back yard. Septic tank revision 2025. This home is a must-see!

20. 2021-09-20
    soldstatus $265,000
21. 2021-09-14
    soldstatus $265,000 Closed 544-char remark

    Show marketing remark (544 chars)

    This 2003 CBS Home is situated in a quaint neighborhood near Bayside Lakes. Property is connected to City Water. Home has everything you need a formal living room, formal dining room And a family room. Laundry room is in air-conditioned space. Split bedroom plan with open concept floor plan all newer kitchen appliances and newer hot water heater. There are two separate dining areas Which means the formal dining room could be converted into a bonus room? Fourth bedroom? Office? Possibilities are endless. Comes with a 1 year home Warranty!

22. 2021-07-15
    historical Backups 544-char remark

    Show marketing remark (544 chars)

    This 2003 CBS Home is situated in a quaint neighborhood near Bayside Lakes. Property is connected to City Water. Home has everything you need a formal living room, formal dining room And a family room. Laundry room is in air-conditioned space. Split bedroom plan with open concept floor plan all newer kitchen appliances and newer hot water heater. There are two separate dining areas Which means the formal dining room could be converted into a bonus room? Fourth bedroom? Office? Possibilities are endless. Comes with a 1 year home Warranty!

23. 2021-07-07
    listed $260,000 Active 544-char remark

    Show marketing remark (544 chars)

    This 2003 CBS Home is situated in a quaint neighborhood near Bayside Lakes. Property is connected to City Water. Home has everything you need a formal living room, formal dining room And a family room. Laundry room is in air-conditioned space. Split bedroom plan with open concept floor plan all newer kitchen appliances and newer hot water heater. There are two separate dining areas Which means the formal dining room could be converted into a bonus room? Fourth bedroom? Office? Possibilities are endless. Comes with a 1 year home Warranty!

24. 2017-08-15
    soldstatus $160,000
25. 2017-08-14
    soldstatus $160,000
26. 2017-07-21
    listed $160,000
27. 1996-05-14
    soldstatus $11,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $4,064 · $339/mo
• Projected year-2 tax: $4,064 · $339/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,008
• − Mortgage interest: −$19,605
• − Property taxes: −$4,064
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − Depreciation: −$10,182
• Taxable loss: −$12,914
• Est. tax savings @ 24.0%: +$3,099
• After-tax cash flow: $-3,403/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Brevard
• NCES district ID: 1200150
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 57% ▼ -4.00%
• Median HH income: $49,426
• Composite: 46.86/100
• National rank: #2370
• State rank: #19 of 73 in FL

Livability — Palm Bay

• Score: 72/100
• State rank: #366
• US rank: #6458

Category grades

Amenities F Commute C+ Cost of living A+ Crime C+ Employment D+ Housing A+ Health & safety D- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Bay, FL
• County: Brevard County · 602,871 people
• City population: 132,211
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,804
• Household income: $79,977
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 697.0

Population outlook (Brevard County) Hauer SSP2

• Today (2025): 623,254 people
• By 2030: 648,420 · +4.0%
• By 2040: 690,009 · +10.7%
• By 2050: 715,669 · +14.8%
• By 2075: 775,744 · +24.5%
• By 2100: 776,687 · +24.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Black 21% Hispanic / Latino 20% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 5%
• Common ancestry: Hispanic 3% Slovak 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% French/Haitian/Cajun 4% Chinese 1%

Political lean MEDSL · Brevard

• 2024 margin: Strong R (+20.8) · D 39.1% · R 59.9% · Other 1.0%
• 2008→2024 swing: -10.4pp toward R · 2008: -10.4pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.4 2016: R+19.8 2012: R+12.7 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.81%
• Current HPI: 330.8595
• Rent YoY: ▲ 3.67%
• Metro: Palm Bay-Melbourne-Titusville, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+3081.8% since first listed

12 events — show timeline

• 2026-05-08 Price Changed $350,000 SCMLS
• 2026-03-19 Listed $375,000 SCMLS
• 2026-03-12 Listed $375,000 SCMLS
• 2026-03-12 Listing Removed — SCMLS
• 2021-09-20 Sold (Public Records) $265,000 Public Records
• 2021-09-14 Sold (MLS) $265,000 SCMLS
• 2021-07-15 Contingent — SCMLS
• 2021-07-07 Listed $260,000 SCMLS
• 2017-08-15 Sold (Public Records) $160,000 Public Records
• 2017-08-14 Sold (MLS) $160,000 SCMLS
• 2017-07-21 Listed $160,000 SCMLS
• 1996-05-14 Sold (Public Records) $11,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $4,064 · -0.6% YoY. Source: county tax records.